The Commerce Department released a report on Tuesday showing new home sales in the U.S. edged slightly lower in the month of October.
The report said new home sales slipped by 0.1 percent to an annual rate of 737,000 in October after surging by 3.8 percent to an annual rate of 738,000 in September. Economists had expected new home sales to come in at an annual rate of 710,000.
The slight decrease came after new home sales reached their highest level since hitting an annual rate of 739,000 in May 2023 in the previous month.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.